Binance CZ: Want to add Ripple's xRapid as partner in the future

07 Feb, 2019 | Updated: 07 Feb, 2019
by Ryan Boltman
News
Binance CZ: Want to add Ripple's xRapid as partner in the future

Binance CEO Changpeng Zhao has taken to Periscope for the first time, after promising to do so over a year ago. The CEO took to Periscope to answer user questions related to Binance and the future of the business.

CZ started off announcing the plans for Binance Chain Beta testing to the public within the next few weeks. The Binance DEX is also set to launch in the coming weeks, with access currently only available to closer partners to test and work with.

Read more: Binance Coin surges into top ten after new Launchpad project announced

Binance also announced that the Binance DEX will have a listing fee for new projects, stated to be roughly $100,000 in order to avoid scam projects. The process will also involve some sort of voting system.

CZ covered over 45 minutes of user questions including some big news related the utilization of xRapid in the future. In the live stream, CZ admits that " there is nothing going on right now but in the future we definitely want to add them as a partner."

Read more: Ripple is growing its partnerships, integrating with SBI and Euro Exim

While nothing solid has been hashed out as of yet, the news is a huge step for both parties. Binance is currently the world's top cryptocurrency exchange, and with CZ looking to build the infrastructure that would allow more companies to make use of Binance, partnering with xRapid would allow an easier way to handle regulatory-compliant funds transfers across the globe with the use of banks. xRapid has already partnered with several banks across the globe in an effort to make Ripple's xRapid the next top payment gateway.

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xRapid has the ability to minimize liquidity costs for payment providers and other financial institutions. Liquidity costs can be high when funds need to be paid into emerging markets, xRapid allows the capital requirements for liquidity to be lowered. xRapid's use of native token XRP allows real-time payments across the globe, offering banks and other payment institutions a highly efficient, scalable, and reliable liquidity option to service cross-border payments.  

An integration between xRapid and Binance, could spell the next wave of mass adoption. 

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